1447 GMT - Ayvens's ownership by Societe Generale is sound, UBS says in a research note. The French bank owns a majority stake in what is the largest car-leasing business in Europe, which it floated in 2017 and enlarged with LeasePlan in 2023. Societe Generale sees the unit as core, as it is one of the two divisions with BoursoBank where management has a growing capital commitment, analysts Jason Napier and Nicolas O'Sullivan write. The group's profits should increase based on integration gains and industry growth, they say. "The key debate for the stock is what sustainable returns are after a period of substantial volatility in used car prices and integration one-offs," they add. UBS starts covering Ayvens stock with a buy rating and 12-euro price target. Shares are up 5.8% at 9.27 euros. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
June 24, 2025 10:47 ET (14:47 GMT)
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